WASHINGTON (MarketWatch) - Applications for U.S. unemployment benefits fell by 25,000 to a seasonally adjusted 370,000 in the week ended Dec. 1, the Labor Department said Thursday. That's the third straight decline and lowest reading in one month. Initial claims from two weeks ago were revised up to 395,000 from an original reading of 393,000, based on more complete data collected at the state level.

The average of new claims over the past month, meanwhile, edged up by 2,250 to 408,000. The four-week average reduces seasonal volatility in the weekly data and is seen as a more accurate barometer of labor-market trends

Check out the seasonal adjustment: -128,000. By contrast, Not Seasonally Adjusted Initial Claims increased by 139,678 - the highest since last January to 498,619. More fun with numbers from your pals at the Bureau of Lying with Statistics.

I’m one of those people who won’t be filing unemployment this coming Sunday. I’m thankful to be working but like far too many people, I’m making much, much less, with no benefits, than I was making at my last job. This government is a fraud. God help us.

24
posted on 12/07/2012 4:27:22 AM PST
by demshateGod
(The fool hath said in his heart, There is no God.)

With the 359K number removed from the workforce— this is how you get a drop in the RATE of unemployment to the oh boy! 7.7% tout by govt.. The ACTUAL number of total unemployed is extremely large.

Excellent commentary at zero hedge with graphics. The 24-54 group has lost the most (that 359K number)— and perhaps the younger-most of them voted for obamao. Of interest is that the older group 55-69 increased 177K (employers are willing to risk experienced people who are not generational whiners— my opinion).

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